Beijing responds to new batch of Trump tariffs

China said Wednesday it will impose 25 per cent tariffs on a further $16 billion of US goods, making good on its promise to retaliate against new American levies. The announcement is the latest round in a tit-for-tat trade conflict between the world's two largest economies which has left global markets on edge. China's levies will come into force at 12:01 on August 23, according to a statement on the finance ministry's web site. The decision follows Washington's announcement Tuesday that it will implement levies on $16 billion of Chinese products starting from the same date. (Text: AFP)